Wire stories category, Page 62
Kellogg’s files lawsuit against its striking cereal workers
OMAHA, Neb. — The Kellogg Co. has filed a lawsuit against its local union in Omaha complaining that striking workers are blocking entrances to its cereal plant and intimidating replacement workers as they enter the plant. The company based in Battle Creek, Mich., asked a judge to order the Omaha...
Hot inflation report slams bond market, sends stocks lowerVideo
NEW YORK — An eye-opening report on inflation that was hotter than expected slammed into the bond market on Wednesday, sending yields jumping, and helped knock stocks lower. Prices for beef, electricity and other items that consumers paid in October surged from year-ago levels at the fastest overall pace since...
Hershey goes salty, buys Dot’s Homestyle Pretzels for $1.2B
Hershey is expanding its salty snack portfolio with the purchase of Dot’s Homestyle Pretzels. The Hershey Co. said Wednesday it will spend $1.2 billion for North Dakota-based Dot’s Pretzels LLC as well as Pretzels Inc., an Indiana-based manufacturer of Dot’s Pretzels that operates three plants. The deal is expected to...
Another day, another record on Wall Street as stocks inch up
NEW YORK — Wall Street clawed its way to more records on Monday, with stock indexes creeping higher after another listless day of trading. The S&P 500 inched up by 4.17 points, or 0.1%, to 4,701.70 after drifting between a small loss and gain through the day. It’s the eighth...
U.S. charges 2 suspected major ransomware operators
WASHINGTON — A suspected Ukrainian hacker has been arrested and charged in the United States in connection with a string of costly ransomware attacks, including one that snarled businesses around the globe on the Fourth of July weekend, U.S. officials said Monday. Yaroslav Vasinskyi was arrested last month after traveling...
Gun maker Remington moves to Georgia in $100M, 856-job deal
ATLANTA — Gun maker Remington Firearms will move its headquarters from Ilion, New York, to Georgia, with plans to open a factory and research operation there. The company announced Monday that it would invest $100 million in the operation in LaGrange, Georgia, southwest of Atlanta, hiring 856 people over five...
Deere warns striking workers not to expect better offerVideo
Deere executives said Wednesday that the company wouldn’t return to the bargaining table with striking workers because it wouldn’t offer a better contract than one they rejected that included immediate 10% raises. Marc Howze, the chief administrative officer of Deere & Co., said the deal the United Auto Workers union...
Stocks rise after Fed says it will dial back aid for economyVideo
Stock indexes on Wall Street shrugged off a downbeat start and notched more record highs Wednesday after the Federal Reserve announced plans to begin reducing the extraordinary aid for the economy it has been providing since the early days of the pandemic. The S&P 500 rose 0.6% and the Dow...
Stocks gain, pushing the Dow Jones industrials over 36,000 for 1st timeVideo
Wall Street added to its recent run of milestones Tuesday as stock indexes hit new highs again and the Dow Jones Industrial Average closed above 36,000 points for the first time. The Dow and benchmark S&P 500 each rose 0.4%. The Nasdaq gained 0.3%. The three indexes also notched all-time...
U.S. files antitrust suit to stop major book publisher merger
The Justice Department is suing to block a $2.2 billion book publishing deal that would have reshaped the industry, saying consolidation would hurt authors and, ultimately, readers. German media giant Bertelsmann’s Penguin Random House, already the largest American publisher, wants to buy New York-based Simon & Schuster, whose authors include...
Major Wall Street stock indexes eke out more record highs
Stocks closed with modest gains Monday on Wall Street, extending the major indexes’ recent record-setting run. The S&P 500 rose 0.2% after spending much of the day wavering between small gains and losses. The Dow Jones Industrial Average added 0.3% and the Nasdaq rose 0.6%. The gains pushed the three...
Coca-Cola acquires remainder of sports drink BodyArmor for $5.6BVideo
Coca-Cola Co. is making a multibillion-dollar bet on the sports drink brand BodyArmor as part of a larger push to diversify its offerings. Coke said Monday it paid $5.6 billion for the remaining 85% of BodyArmor. Coke originally bought a 15% stake in the BodyArmor in 2018. Coke confirmed that...
‘Deja vu all over again’: American Airlines cancels hundreds more flights Sunday
DALLAS — American Airlines has canceled nearly 700 flights so far Sunday, adding to more than 1,000 already called off as the airline struggled to recover from slowed operations caused by weather on Thursday and Friday. Nearly a quarter of the mainline operations for the Fort Worth-based carrier were sidelined...
Broad gains for stocks push S&P 500, Nasdaq to record highsVideo
A broad rally for stocks on Wall Street sent the S&P 500 and Nasdaq to new highs Thursday, as the market more than made up for modest losses a day earlier. The S&P 500 rose 1%, posting its third all-time high this week. More than 80% of the stocks in...
Merck envisions billions from covid-19 treatment sales
Merck fell out of the race to develop covid-19 vaccines earlier this year but could vault to head of the pack for treatments in 2022. The drugmaker’s potential antiviral, molnupiravir, may generate $5 billion to $7 billion in sales through next year, company executives told analysts Thursday morning. That could...
New home sales jumped 14% in September
WASHINGTON — Sales of new homes jumped 14% in September to the fastest pace in six months as strong demand helped offset rising prices. The Commerce Department reported Tuesday that sales of new single-family homes rose to a seasonally adjusted annual rate of 800,000 units last month which was well...
‘Buy it when you see it’: Retailers dread holiday shortages
NEW YORK — The Perfect Pigg, a gift shop owned by Ginger Pigg, is the go-to place for residents of Cumming, Ga., to pick up gift items like kids toys and home goods. But this year, store shelves might be a little sparse. Because of bottlenecks in the global supply...
Hertz order for Teslas ranks among biggest-ever EV purchasesVideo
DETROIT — Hertz announced Monday that it will buy 100,000 electric vehicles from Tesla, one of the largest purchases of battery-powered cars in history and the latest evidence of the nation’s increasing commitment to EV technology. The purchase by one of the world’s leading rental car companies reflects its confidence...
Stocks end mostly higher, enough for S&P 500 to set recordVideo
A wobbly day of trading on Wall Street left major stock indexes mostly higher Thursday, nudging the S&P 500 to an all-time high. The benchmark index bounced back from an early slide to rise 0.3%, its seventh straight gain. The S&P 500 eclipsed the record high it set on Sept....
G-20 leaders lower ambitions to ‘consign coal to history’
Group of 20 diplomats have all but given up on their lofty goal of consigning coal to history and are instead closing in on a more modest plan to stop governments funding foreign coal-fired power plants, according to people familiar with the situation. With the energy crisis changing the dynamics...
Existing home sales surge as interest rates point higher
Sales of previously occupied U.S. homes bounced back in September to their strongest pace since January as mortgage rates tick higher, motivating buyers to get off the sidelines. The National Association of Realtors said Thursday that existing homes sales rose 7% compared with August to a seasonally adjusted annual rate...
Stocks end higher, bringing S&P 500 to the cusp of a record
Solid earnings from health care companies helped send stocks higher on Wall Street Wednesday and pushed the benchmark S&P 500 to the brink of another record high. The market has been gaining ground as investors shift their focus to the latest round of corporate earnings. Stocks have been choppy for...
Workers fed up with nights, weekends seek flexible schedules
After struggling to hire workers for its outlet store in Dallas, Balsam Hill finally opened on Sept. 1. But the very next day, the online purveyor of high-end artificial holiday trees was forced to close after four of its five workers quit. The main gripe for three of them? Working...
Bitcoin tops $66,000, hits high on mainstreaming excitement
NEW YORK — Bitcoin jumped to a record Wednesday, topping $66,000 for the first time, as it rides a wave of excitement about getting further accepted by the financial establishment. Bitcoin was trading at $66,901.30, up 7.6%, as of 10:52 a.m. It’s roared back after sinking below $30,000 during the...
Facebook paying fine to settle U.S. suit on discrimination
Facebook is paying a $4.75 million fine and up to $9.5 million to eligible victims to resolve the Justice Department’s allegations that it discriminated against U.S. workers in favor of foreigners with special visas to fill high-paying jobs. Facebook also agreed in the settlement announced Tuesday to train its employees...
